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2987 Franklin Street Detroit, MI $ 1,250,000
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$ 1,250,000 Get more info
2987 Franklin Street
$ 1,250,000
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2987 Franklin Street

Detroit, MI, 48207
$ 1,250,000
Bedrooms-- Baths-- Sq 6,677

Monthly Estimate*

$ 7,696

2987 Franklin Street, Detroit, MI 48207 - Image 1
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2987 Franklin Street, Detroit, MI 48207 - Image 21

Commercial Property for sale in Detroit, MI

for $1,250,000. This 6,677 square foot building was built in 1943 on a lot size of 0.1.

Welcome to this excellent commercial space in Rivertown, located right next to the nationally renowned Detroit Riverwalk and mere minutes from downtown Detroit, and the Eastern Market. Open to multiple uses, such as office, retail, creative, or light industrial, this space can be combined with additional adjacent spaces (see photo 21: Section 3 can be purchased solo for $950K or in combination with this unit (Sections 1, 2 + 4) for a discounted $1.99M and a whopping 12,000 sqft). Currently filled with a month to month lease. Purchase includes 2 parking spaces in the attached gated parking lot.

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Commercial Active

Price

$ 1,250,000

Property Type

Commercial

Taxes

$ 11,607

Style

RealEstateOnly

Lot Size

0.1

Year Built

1943

Town/City

Detroit

County/Region

Wayne

MLS | Web ID

20261005523
Features
General
Sewer SewerAtStreet
Possession AtClose
Garage Spaces 0.0
Security Features SecurityFence
Construction Materials Brick
Year Built 1943
Property Subtype RealEstateOnly
Current Use Office
County Wayne
Net Operating Income 204000.0
Operating Expense 20400.0
New Construction N
Property Type CommercialSale
HOA N
Attached Garage N
Subdivision Name FRANKLIN 2987 LOFTS CONDO
Garage Y/N N
Status Active
Directions Driving E on Jefferson towards Belle Isle turn R onto McDougal
City DetroitCity_Wayne
Senior Community Y/N N
High School District Detroit
Zoning Description Commercial
MLS Area Area05053DetWoodwardMcclellanSoMack
Lot Size Units Acres
Carport Y/N N
Land Lease Y/N N
Tax Annual Amount 11607.0
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Standard Status Active
Occupancy Type Tenant
Tax Assessed Value 141052
Expected Active Date 2026-01-27
Legal Description N FRANKLIN UNIT NO 1 WAYNE COUNTY CONDO PLAN NO 1095 FRANKLIN 2987 LOFTS CONDOMINIUM RECORDED L54500 P897 DEEDS W C R 11/14 22.15% SPLIT/COMBINED ON 10/05/2017 FROM 11000072-4 11000075.; SPLIT/COM
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Exterior
Fencing Fenced Perimeter
Water Source WateratStreet
Foundation Details Slab
Spa N
Building Area Total 6677.0
Lot Dimensions 200x100
Lot Size Acres 0.1
Waterfront Y/N N
Road Frontage Type Paved
Crops Included Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Interior
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N N
Fireplace Y/N N
Above Grade Finished Area 6677.0
Above Grade Finished Area Unit Type SquareFeet
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Internal Only
Street Number 1 2987
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* Excluded Features
List By
Jay Taylor

Listing Agent

Good Company

Broker

(313) 410-1149

Phone

Affordability Calculator

$8,664
Per Month
89%
11%
0%
Monthly Principal & Interest
$7,696
Monthly Property Taxes
$967
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
848539 Elementary School
848135 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
1/27/2026$1,250,000 Listed Price

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2987 Franklin Street, Detroit, MI, 48207 is a Commercial Property for sale at $1,250,000 with 6,677 sqft and a lot size of 0.1. 2987 Franklin Street was built in 1943. The property's zip code is 48207 which is in Detroit, MI

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